Which of the following goods would have the most inelastic demand?
A)ski vacations
B)bread
C)luxury cars
D)big screen TVs

Question

Quizplus · Accepted Answer

Bread is a basic necessity that people need for survival and tends to have a relatively low price. Hence, the demand for bread is likely to be inelastic because changes in price will have little effect on the quantity demanded. People will continue to buy bread even if its price increases because they need it.

Which of the Following Goods Would Have the Most Inelastic